In which business structure does one person have complete control and responsibility?

In a sole proprietorship, one individual holds complete control over the business and bears all the responsibilities associated with it. This structure is the simplest form of business organization and allows the owner to make decisions quickly and independently, without the need to consult partners or shareholders. The owner is entitled to all profits but also faces unlimited liability, meaning personal assets can be at risk if the business incurs debts or legal challenges. This direct control and the single ownership principle differentiate a sole proprietorship from other business structures, where control and responsibilities are shared among multiple individuals or entities, such as in corporations or partnerships.